ANZ Rewards Black - prepaying a card to enable car purchase

Mr H

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Dec 5, 2013
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Here's the deal. I have an ANZ Rewards black card. It has a credit limit of, say $10,000. I am looking to buy a car that costs, say $80,000 and I have sufficient funds in my ANZ current account. Can I transfer the $80,000 onto my credit card to create a credit balance, thereby allowing me to buy the car on the card and score the rewards? I have changed the dollar amounts for illustrative purposes.

I know the dealership will charge a processing fee, by the way.

Has anyone done anything similar? Any tips on making it work? Grateful for advice within the next day or so.
 

Scr77

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Feb 15, 2014
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Should be fine. Plenty of people will have done similar with ATO etc in the past.
 

11sjw

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Sep 12, 2009
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If you have an ANZ linked account with the $ in it you could just pay $10k at a time and transfer the money onto it in $10k lots.

Alternatively you might want to consider lashing out on a AMEX Platinum Charge Card, if the dealer will take AMEX. That much of a spend deserves an uncapped points earning rate! ;) AMEX Plat Charge Card Especially if you haven't held an AMEX for 18 months, the bonus on top of what you'll earn would make it a rewarding car purchase indeed.
 

Mr H

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Dec 5, 2013
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Thanks for the ideas. I have seen horror stories about people (well, one person) trying this and being locked out of the credit card for being naughty while also losing access to the funds while the mess was sorted out.

I like the idea of an uncapped Amex earn, but the dealer fees and card fee would be prohibitive, and it is only 13 months since I had an Amex. Better off not having the points and paying for flights with what I would save.
 
Joined
Sep 2, 2008
Posts
322
If you have an ANZ linked account with the $ in it you could just pay $10k at a time and transfer the money onto it in $10k lots.

Alternatively you might want to consider lashing out on a AMEX Platinum Charge Card, if the dealer will take AMEX. That much of a spend deserves an uncapped points earning rate! ;) AMEX Plat Charge Card Especially if you haven't held an AMEX for 18 months, the bonus on top of what you'll earn would make it a rewarding car purchase indeed.
That works with Amex…I,v done it twice no problems 💀
 

11sjw

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Last car I purchased I traded in an old bomb and got the minimum trade in promised. It barely covered the credit card fees. However I'd do it again in a heartbeat.
 
Joined
Sep 2, 2008
Posts
322
Last car I purchased I traded in an old bomb and got the minimum trade in promised. It barely covered the credit card fees. However I'd do it again in a heartbeat.
It,s even better if Amex promotion offers 5/10 points per dollar…those were the days!!💀😜
 

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